NEW YORK (TheStreet) -- Cinemark Holdings (CNK) shares are down -2.4% to $34.73 on Monday after being downgraded to "neutral" from "buy" with a price target of $36.75 by analysts at B. Riley.
The movie theater company's downgrade comes following a July 4 weekend in which ticket sales were down 44% across the industry from the previous year.
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TheStreet Ratings team rates CINEMARK HOLDINGS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate CINEMARK HOLDINGS INC (CNK) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company shows low profit margins."